The cup and handle pattern we see is almost complete. Once it completes the handle, the price will shoot up with a target of 3.04 for a new all time high! After that, we have a major target of 3.25 from our previous cup and handle (see older chart).
Keep in mind ADA goes live in Japan on AUG 25 at 8:30am. I believe this is on AUG 24th at 4:30pm PST. Let me know what you think!
Now lets talk about why ADA has so much strength. Cardano is about to release smart contract September 12 with the Alonzo release. This addition makes it a viable competitor to ETH as an open source platform. Right now, it is just a glorified ledger. As a person who plans to be a Cadano Developer once Alonzo is released, it makes me wonder how far ADA can go. I have heard people say it cannot go to 100 dollars because it will need around a 3T market cap. But considering in the past 2 weeks ADA has added 31B to its market cap, it's definitely not out of the realm of possibility. Also, considering Grayscale Investments has picked it up, I think it has a LOT more room to grow.
Tell me what you think?
This is not financial advice. DYODD.
Keep in mind ADA goes live in Japan on AUG 25 at 8:30am. I believe this is on AUG 24th at 4:30pm PST. Let me know what you think!
Now lets talk about why ADA has so much strength. Cardano is about to release smart contract September 12 with the Alonzo release. This addition makes it a viable competitor to ETH as an open source platform. Right now, it is just a glorified ledger. As a person who plans to be a Cadano Developer once Alonzo is released, it makes me wonder how far ADA can go. I have heard people say it cannot go to 100 dollars because it will need around a 3T market cap. But considering in the past 2 weeks ADA has added 31B to its market cap, it's definitely not out of the realm of possibility. Also, considering Grayscale Investments has picked it up, I think it has a LOT more room to grow.
Tell me what you think?
This is not financial advice. DYODD.
Comment:
The small handle will likely double bottom off of 2.73 which will cause the move to 2.85 for the completion of the pattern.
Comment:
Well, I didn't get the double bottom I wanted in the handle (I like a double bottom). However, what I did get was an even smaller cup and handle pattern. It seems like ADA loves this pattern. The cup and handle pattern can be considered complete at 2.85
Comment:
It is also worth noting that around the time this pattern is completed, ADA goes live in Japan. Makes you think, doesn't it?
Comment:
ADA is now live in Japan
